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Silver???

I keep seeing talk about silver prices skyrocketing but I don't see anything? Is it because it hasn't happened yet? If it has happened what is the price per oz? If it hasn't what is the predicted price per oz? Even if the silver prices skyrocket will I be able to sell my proof and/ or MS-64 coins for melt value? (if it is above melt?)

Comments

  • JimnightJimnight Posts: 10,666 ✭✭✭✭✭

    Some good advice from @Meltdown

  • MsMorrisineMsMorrisine Posts: 32,006 ✭✭✭✭✭

    what has skyrocketed over the weekend has been sales of actual silver from online bullion dealers.

    so much sold, dealers have raised their prices.

    also, silver has risen from last week, but I would not call it a skyrocket.

    again, actual silver prices are a lot higher. you won't find silver for sale for sale anywhere near $28.35/oz

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • abcde12345abcde12345 Posts: 3,404 ✭✭✭✭✭

    @Jimnight said:
    Some good advice from @Meltdown

    :#

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    @derryb.... As clear and accurate picture of reality as I have seen.... ;) Cheers, RickO

  • derrybderryb Posts: 36,010 ✭✭✭✭✭
    edited February 2, 2021 9:41AM

    The only hope of breaking the hold that spot price has on real silver is for physical demand to become so great that it results in a complete shortage of available silver. Only a major currency crisis can do this, not a bunch of gamers or solar panel producers. Then and only then will there be a chance that the futures market shorts will go long in an effort to see the contract to the end to get their hands on those 100 oz bars in the COMEX vaults. On a large enough scale the COMEX will fail to deliver.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

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